04:26 PM EDT, 07/31/2025 (MT Newswires) -- Coveo Solutions ( CVOSF ) after trade Thursday said its fiscal first-quarter loss widened while revenue rose year-over-year.

The company said it lost US$15.05 million, or US$0.16 per share, in the quarter ended June 30, compared with a loss of US$6.10 million, or US$0.06 per share, a year ago. FactSet expected loss per share of US$0.06.

Revenue for the quarter US$35.55 million, up from US$32.22 million, a year prior. FactSet projected US$35.2 million.

Coveo reported software as a service (SaaS) subscription revenue of US$34.2 million, up 12% from US$30.6 million last year. Revenue from its core platform grew 16% to US$33.1 million.

Among other highlights, the company said its Generative AI solutions continued to perform well, accounting for about half of new business bookings this quarter.

Looking ahead, the company expects fiscal second-quarter SaaS subscription revenue of between US$35.3 million and US$35.8 million, and total revenue of US$36.6 million to US$37.1 million. For the full fiscal year, Coveo expects SaaS subscription revenue between US$141.5 million and US$144.5 million, and total revenue between US$147.5 million and US$150.5 million.

The company added that it continues to expect around US$10 million in positive operating cash flow for the full year.

Coveo shares closed up $0.06 to $9.02 on the Toronto Stock Exchange.